February 21, (THEWILL) – The Senate has adopted a resolution directing the federal government to halt its plans to remove electricity subsidies.
The directive followed a motion moved at plenary on Wednesday, by Senator Aminu Iya Abbas (PDP, Adamawa Central).
Moving the motion on under matters of urgent importance, the lawmaker said the motion was necessitated by the current economic hardship in the country
The federal government, had last week declared that it was now “very difficult to sustain subsidy on electricity.”
.Emphasising that the payment of electricity subsidies is no longer sustainable, Adelabu said the nation must begin to move towards a cost-effective tariff model.
He said the Federal Government was currently indebted to about N1.3b to the power generating companies (GenCos) and $ 1.3 billion debt to gas companies
According to the minister, only N450 billion was budgeted for subsidy this year but the ministry needs over 2 trillion naira for subsidy.
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